Petróleo Brasileiro (Petrobras) announces the beginning of the non-binding phase related to the first phase of the sale of assets in downstream and associated logistics in Brazil.


Image: Petrobras headquarters in downtown Rio de Janeiro, Brazil. Photo: courtesy of Eric and Christian.

The assets include the  refineries  Abreu  e  Lima  (RNEST)  in  Pernambuco,  Landulpho  Alves  (RLAM)  in  Bahia,  Presidente  Getúlio Vargas (REPAR) in Paraná, and Alberto Pasqualini (REFAP) in Rio Grande do Sul.

Potential  buyers  qualified  for  this  phase  will  receive  a  descriptive  memorandum  with  more  detailed information about the aforementioned assets, as well as instructions on the divestment process, including guidelines for preparing and submitting non-binding proposals.

This  disclosure  to  the  market  is  in  line  with  Petrobras’  divestment  methodology,  which  is  in  line  with  the  special  regime  for  the  divestment  of  assets  by  federal  mixed-capital  companies,  provided for in Decree 9,188/2017.

Downstream  divestments  are  aligned  with  the  portfolio  optimization  and  the  company’s  capital  allocation improvement, aiming to maximize value for our shareholders.

Source: Company Press Release